Manager, Commodity Accounting
About The Position
The Manager, Commodity Accounting, is responsible for managing the accounting and reporting of complex physical and financial commodity transactions. This role requires the ability to read, interpret, and determine appropriate accounting treatment for sophisticated and often non-standard trading contracts and structures. This role ensures the accurate and timely recording of commodity and derivative transactions in accordance with U.S. GAAP and company policies. The Manager partners with Marketing, Commercial, Risk Management, Operations, Treasury, and Finance teams to support business initiatives and maintain effective accounting processes and internal controls. The position provides day-to-day leadership of the commodity accounting function while driving process improvements and supporting the development of team members, and the Company’s growth and operational objectives within the commodities value chain. This is an on-site role.
Requirements
- Bachelor's degree in Accounting, Finance, or a related field required
- CPA designation required
- Minimum of 8 years of progressive commodity accounting experience within the energy industry
- Minimum of 3 years of supervisory or management experience
- Prior experience within a global physical and financial commodities trading organization (merchant trading house, physical marketer, or major commodity trading desk) strongly preferred
- Strong knowledge of U.S. GAAP and accounting principles related to energy and commodity transactions
- Experience with complex physical and financial commodity accounting
- Experience reconciling trading book positions with physical settlement and accounting records
- Proven experience accounting for high-volume, structured transactions and interpreting master trading agreements to determine appropriate accounting treatment
- Strong background with intercompany activities and month-end close processes
- Experience working with ERP and commodity trading and risk management systems/ETRM required
- Strong understanding of marketing, commercial operations and risk management concepts
- Strong leadership, coaching, and team development skills
- Excellent analytical, organizational, and problem-solving abilities
- Strong verbal and written communication skills
- Ability to effectively manage competing priorities and meet deadlines in a fast-paced environment
- Advanced proficiency in Microsoft Excel and financial reporting systems
- Strong attention to detail and commitment to accuracy
- Ability to build collaborative relationships across accounting, commercial, operations, and finance teams
Nice To Haves
- Master's degree in Accounting, Finance, or Business Administration preferred
Responsibilities
- Manage and oversee accounting and reporting for LNG, natural gas, crude oil and NGL trading and marketing activities (physical and financial) including mark-to-market activities, and hedge programs, where applicable, as well as intercompany transactions within a complex organization structure
- Manage the monthly, quarterly, and annual close processes for commodity and derivatives accounting activities
- Ensure accurate accounting treatment for physical and financial transactions
- Review and approve journal entries, account reconciliations, and financial analyses
- Read, interpret, and determine appropriate accounting treatment for complex and non-standard contracts, including master trading agreements, structured transactions, and optionality-embedded deals
- Assess contracts for embedded derivatives, normal purchase/normal sale (NPNS) elections, and lease classification under U.S. GAAP
- Assist with the evaluation of contracts in the drafting phase and provide guidance to achieve the optimal accounting outcome
- Work with Marketing, Risk, Middle Office and Commercial teams to resolve accounting and reporting issues
- Monitor intercompany billings, receivable balances and payable balances within a complex organization structure
- Monitor account balances and investigate variances to ensure accurate reporting
- Maintain compliance with U.S. GAAP, company policies, and internal control requirements
- Support internal and external audit requests and provide required documentation
- Assist with the implementation of process improvements, automation initiatives, and system enhancements
- Develop and maintain accounting procedures and documentation
- Provide guidance, training, and mentorship to accounting staff
- Prepare management reports and analyses supporting business and financial objectives
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What This Job Offers
Job Type
Full-time
Career Level
Manager
